WCM Investment Management LLC Acquires 74,085 Shares of ACI Worldwide, Inc. $ACIW

Key Points

• WCM Investment Management increased its stake in ACI Worldwide by 16.8% in the first quarter, buying 74,085 additional shares and bringing its total holding to 516,342 shares worth about $20.8 million.
• ACI Worldwide reported a strong latest quarter, with EPS of $0.61 beating expectations of $0.45 and revenue of $425.75 million topping estimates; revenue also rose 7.9% year over year.
• Analyst sentiment remains mixed: DA Davidson raised its price target to $64 and kept a buy rating, while the overall consensus from MarketBeat is currently Hold with an average price target of $64.

WCM Investment Management LLC raised its holdings in shares of ACI Worldwide, Inc. (NASDAQ:ACIW - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,342 shares of the technology company's stock after acquiring an additional 74,085 shares during the quarter. WCM Investment Management LLC owned about 0.51% of ACI Worldwide worth $20,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jefferson Bridge Capital LLC purchased a new position in ACI Worldwide during the 4th quarter valued at about $1,176,000. JPMorgan Chase & Co. boosted its position in shares of ACI Worldwide by 39.0% in the third quarter. JPMorgan Chase & Co. now owns 249,533 shares of the technology company's stock valued at $13,168,000 after acquiring an additional 69,964 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of ACI Worldwide by 159.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 781,468 shares of the technology company's stock valued at $37,362,000 after acquiring an additional 480,711 shares during the period. Congress Asset Management Co. grew its stake in ACI Worldwide by 4.0% during the fourth quarter. Congress Asset Management Co. now owns 1,391,125 shares of the technology company's stock valued at $66,510,000 after acquiring an additional 52,946 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in ACI Worldwide by 27.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 166,400 shares of the technology company's stock valued at $7,956,000 after acquiring an additional 35,700 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

ACI Worldwide Price Performance

Shares of NASDAQ ACIW opened at $58.07 on Monday. The firm has a fifty day simple moving average of $47.01 and a two-hundred day simple moving average of $44.02. ACI Worldwide, Inc. has a 12 month low of $38.05 and a 12 month high of $60.17. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.90 billion, a PE ratio of 29.18 and a beta of 0.98.

ACI Worldwide (NASDAQ:ACIW - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.16. ACI Worldwide had a return on equity of 16.76% and a net margin of 11.51%.The business had revenue of $425.75 million during the quarter, compared to the consensus estimate of $410.08 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that ACI Worldwide, Inc. will post 2.69 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ACIW. DA Davidson boosted their price target on shares of ACI Worldwide from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Zacks Research raised ACI Worldwide from a "strong sell" rating to a "hold" rating in a research note on Monday, June 1st. Weiss Ratings raised ACI Worldwide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut shares of ACI Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $64.00.

About ACI Worldwide

ACI Worldwide NASDAQ: ACIW is a global software company that provides electronic payment and banking solutions to financial institutions, merchants and billers. The company's platforms enable real-time processing of credit, debit, ACH, bill payments, faster payments and money transfers, as well as integrated fraud prevention services. Headquartered in Naples, Florida, ACI serves clients across banking, payments and commerce sectors worldwide.

ACI's modular suite of applications can be deployed on-premise, in the cloud or in hybrid environments to meet diverse operational needs.

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